February 3, 2010
After being in the market for quite some time, Panasonic has landed in Cupertino. The company leased 50K SF from Tantau Investments LLC, the partnership of Ralph Borelli, Ron Tate, Larry Wallerstein, and John Salera. The 102,500SF building, dubbed Cupertino Crossing is a new (and rather plain looking) 2-story concrete tilt production.
Panasonic is taking the building down on a phase-in from roughly 30K to 50K. In addition, Panasonic is responsible for some extra costs relating to a generator and utility installations.
They were represented by Grubb & Ellis, while Cornish & Carey represented the Landlord.
Panasonic is vacating its space at 550 Winchester Blvd, the ~101,000 SF building McMorgan & Co. purchased from South Bay back in 2005 (for roughly $32M).
Here’s a link to the Cornish flyer.
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- Symantec Ditching Cupertino?
- Schwab Putting 375,000 SF for Sublease in San Francisco
- Symantec Sells Cupertino Buildings to Walton Street